Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on AMEDEO AIR FOUR PLUS LTD. We currently have 3 research reports from 1 professional analysts.
|16Nov16 04:01||RNS||Publication of Circular and Notice of EGM|
|14Nov16 06:30||RNS||Half-year Report|
|12Oct16 03:00||RNS||Quarterly Report|
|12Oct16 03:00||RNS||Dividend Declaration|
|26Aug16 04:21||RNS||PDMR and PCA Dealing|
|26Aug16 04:20||RNS||PDMR and PCA Dealing|
|19Aug16 05:39||RNS||Acquisition of Asset|
Frequency of research reports
Research reports on
AMEDEO AIR FOUR PLUS LTD
AMEDEO AIR FOUR PLUS LTD
2016 YTD Fund raising review – Topping up
05 Oct 16
Secondary issuance has dominated in 2016. 3i Infrastructure (3IN) led with a monster £385m raise (target: £350m) in May. At a sector level, infrastructure (£700m), property (£500m, mostly pre-Brexit vote), and renewables (£340m) tapped heavily in Q2 & Q3 2016. The IPO market remains quiet with only one primary launch in 2016; Hadrian’s Wall Secured Investments (HWSL) raised £80m for secured lending to SMEs including equipment finance, property development, and commercial loans. We also note that six funds have repurchased more than £50m of stock YTD.
11 Aug 15
The sector attracted a gross £2.8bn in Q2 (Q2 2014: £1.8bn) of which roughly two thirds came via IPO, dominated by Woodford Patient Capital (£800m, WPCT). Besides WPCT, issuance was lead by new and existing debt vehicles across a range of alternative sectors including CLOS, SME lending, property and aircraft leasing. Six new funds were launched in Q2, raising a total of £1.6bn (average £160m, ex WPCT) and have returned an average 6.5% on IPO price. Amedeo Air Four Plus (AA4) became the fifth aircraft leasing fund and the fourth to invest in Airbus A380s, offering a dividend yield of 8.25%. Ranger Direct lending (£135m) joined the SME debt line-up offering a 10% yield, targeting direct lending platforms in contrast to newer peer-to-peer platforms. WPCT increased the size of its IPO to £800m (from £500m) and is currently traded at a c15% premium to NAV with a tap issuance programme in place to manage the rating. Having struggled to raise the initial £100m target at launch, Miton UK MicroCap Trust has recently started to tap the market, raising an additional £4.6m in Q3, taking the market cap to c£55m.
Panmure Morning Note 30-11-2016
30 Nov 16
RPC, the international plastics products design and engineering group, has delivered yet another strong set of results (1H17 EBITDA +65%, EPS +45%). At the interim stage PBT was +66% (materially better than we had forecast). Topline growth has principally being driven by acquisitions (GCS + BPI), though organic remains a feature (and crucially remains at levels consistent with FY16). The two recent acquisitions have quickly been assimilated into the panEuropean platform and management has raised cost synergy guidance (again).
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
Panmure Morning Note 02-12-16
02 Dec 16
Today James Halstead will be holding its 101st AGM. Trading during the first part of FY17 has been mixed, with some notable challenges. However, movements in FX (i.e. weak sterling) is boosting reported earnings, offsetting UK volume trends and pricing pressures. Whilst earnings are likely to be second half weighted, the picture is in-line with expectations and we are leaving our FY17 PBT estimates unchanged (£47.4m in FY17 vs £45.4m FY16).
02 Dec 16
On 30 September 2016, when the company announced its full year results, it reported that the UK business had seen a slow start to the year, with particular weakness in repair and renewal spending by the NHS as well as “reticence” in the education sector. However, with the UK only representing about a third of the business, this weakness was expected to be more than offset by the positive effect of a weakened sterling on its overseas business, given the benefits for competitiveness and margins.
06 Dec 16
600 Group* (SIXH): Interim results: order book showing signs of improvement (CORP) | Real Good Food* (RGD): Commodity volatility impacts numbers (CORP) | Minds + Machines* (MMX): .vip goes live in China (CORP | Imaginatik* (IMTK): Interims (CORP) | iomart* (IOM): Quality business as usual (CORP) | Fulcrum (FCRM): Upgrades continue (BUY)